On the evening of January 9, ST Huayi announced that it had received the decision of the Shanghai Stock Exchange to terminate its ** listing. This is also the first A-share stock to be delisted in 2024.
The company's ** price has been lower than 1 yuan for 20 consecutive trading days, and it has reached the trading delisting index, becoming the first stock to be delisted in 2024. The Shanghai Stock Exchange made a decision on January 9 to terminate the listing of the company, and the company will terminate the listing and delisting on January 16, 2024.
From November 28, 2023 to December 25, 2023, the ** price of *ST Huayi was lower than 1 yuan for 20 consecutive trading days, which touched the conditions for termination of listing, which is a transactional forced delisting.
In November 2023, *ST Huayi received the "Prior Notice of Administrative Punishment" from the Zhejiang Securities Regulatory Bureau. According to the "Advance Notice of Administrative Punishment", there are false records in the company's annual reports from 2017 to 2022, and after calculation and adjustment, the company's net profit attributable to the parent company from 2016 to 2019 is negative, which may touch the situation of forced delisting of major violations, and the company may be forced to delist due to major violations.
At the same time, since the company's disclosure announcement in November 2019 revealed that there were vicious violations such as huge illegal guarantees and the occupation of funds by controlling shareholders, *ST Huayi's business has been in decline and has continued to lose money since 2021. Wind data shows that in the first three quarters of 2021, 2022 and 2023, *ST Huayi's net profit attributable to the parent company was -83.6 billion yuan, -48.5 billion yuan, -13.6 billion yuan.
According to the previous announcement, as of December 22, 2023, *ST Huayi has a balance of 19 funds occupied by Huayi Group (the original controlling shareholder of ST Huayi) and its affiliates3.4 billion yuan, and the balance of illegal guarantees is 1$8.1 billion. Since Huayi Group is currently in the stage of bankruptcy liquidation and has completed the distribution of assets in accordance with the Implementation Plan of the Bankruptcy Distribution Plan, there are risks that it is difficult to resolve a series of problems such as capital occupation and illegal guarantees for *ST Huayi.
According to the data, ST Huayi has been suspended since the market opened on December 26, 2023, and the stock price was 037 yuan shares, with a market capitalization of 2$8.1 billion. As of the end of September 2023, the number of ST Huayi shareholders was 23,481.
According to the announcement, ST Huayi will terminate the listing and delisting on January 16, and after the company's first termination of listing, it will enter the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. relying on the original ** company agency share transfer system to establish and manage the two network companies and delisted companies for listing and transfer.
The Shanghai Stock Exchange said that ST Huayi should immediately arrange for the transfer of the company to the national small and medium-sized enterprise share transfer system after the listing is terminated, so as to ensure that the company can be listed and transferred within 45 trading days from the date of delisting.
The announcement further pointed out that the company will complete the hiring of the host brokerage as soon as possible. At the same time, the company or the lead brokerage firm will entrust ChinaClear Shanghai Branch to provide preliminary account conversion services for individuals and ordinary institutional investors who hold the company's **. During the period from the termination of the company's listing and delisting to the completion of the initial registration business of the delisting sector by the sponsoring brokerage, investors should not cancel the ** account obtained from the initial conversion, so as to avoid affecting the registration and transfer of shares.
Xiaoxiang Morning News Comprehensive.
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